Mike Kavanau

Working on behalf of Chicago-based developer Sterling Bay Cos., HFF has recently secured $220 million in financing for 1KFulton, a 550,000-square-foot mixed-use development to be anchored by Google, Inc. in Chicago’s West Loop.

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The refurbished hotel offers 250 guest rooms, 12,000 square feet of flexible meeting space and a Southern-inspired restaurant. The property is close to several Fortune 500 companies, including Cox Enterprises, UPS and Home Depot

This year proved to be a challenging one for hospitality owners and developers seeking conventional financing. Rodrigo Azpurua, founder & CEO of Riviera Point Development Group, shares the alternative lending sources he has successfully used to secure capital for projects and what he expects in 2018.